Welcome home to 1401 Far Drive! This lovingly maintained three bedroom home offers an open and airy floor plan with great formal rooms and comfortable living spaces. Quality features include soaring ceilings, arched doorways, wood floors, updated fixtures, new water heater, security system and beautiful outdoor space. You will enjoy preparing meals in the wonderful eat-in kitchen equipped with an abundance of cabinetry, full compliment of appliances and a tile backsplash. The oversized great room is perfect for entertaining and is sure to be a favorite place for family and friends to gather and toast their toes by the cozy gas log fireplace. An elegant dining room is embellished with a dazzling chandelier, chair rail molding and tons of natural light through the large window. Retreat to your master suite featuring vaulted ceilings, walk in closet and spa bath with whirlpool tub, separate shower and an elongated dual vanity. Two secondary bedrooms designed for comfort offering ample growing space with wood floors, ceiling fans/lights and a shared bath with tub/shower. A fabulous second floor bonus room offers great flex space for home office and recreational fun. Great outdoor space in the beautifully landscaped and fenced in yard with a deck and stone patio with pergola, plus side loading 2 car garage with epoxy floor. Exterior lighting highlights this home and vegetation as well as providing additional security. A festive seasonal timer for Christmas with red and green lights is sure to impress. The 12volt- low voltage system is hard wired in conduit using heavy gauge wiring adding peace of mind to your outdoor living. Make your appointment today before this home is sold!

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

Meeman-Shelby Forest State Park is a 13,476-acre hardwood bottomland area bordering the mighty Mississippi River 13 miles north of Memphis featuring two lakes, Poplar Tree Lake and Lake Piersol, and mature Bald Cypress and Tupelo swamp. Most of the facilities are on top of the majestic Chickasaw Bluffs that rise from the bottomlands and are covered with large oaks, American beech, hickory and sweet gum. There are 10 state Champion Trees and two National Champion Trees as well as endangered and protected plants. Deer, turkey, otter, beaver, foxes and bobcats are plentiful throughout the forest. Over 200 species of songbirds, waterfowl, shorebirds and birds of prey, including the American Bald Eagle.

The park offers activities focused on the nature and beauty of the park including biking trails, boating, cabins, camping, a disc golf course, fishing, hiking trails, horse-back riding, picnic facilities and swimming. There is certainly something for everyone!

The Meeman Museum and Nature Center is located on the park's grounds. Exhibits include live snakes, turtles, salamanders, fish aquariums, stuffed animal exhibit, indoor live butterfly garden (open seasonally), bone table, insect table and a Native American exhibit.

The park also hosts a variety of fun activities! You won’t want to miss the upcoming Easter Egg Hunt on April 4th. Click here for more info.

Today, Freddie Mac is scheduled to start buying mortgages with down payments of only three percent – the first time down payments have been this low on Freddie Mac loans in nearly five years. The program is called Freddie Mac Home Possible AdvantageSM.

In a recent Executive Perspectives, Dave Lowman EVP, Single-Family BusinessFreddie Mac, explained the potential impact this program will have on the housing market:

“There's a new reason Realtors and lenders may expect more qualified borrowers at the closing table during this spring's home buying season. In addition to low mortgage rates and rising job growth, the down payment hurdle is starting to shrink for creditworthy borrowers, including first-time homebuyers.”

And the mortgage industry agrees with Mr. Lowman. In a recent survey of mortgage originators by the National Association of Realtors (NAR), it was revealed that most loan officers believe the move to a lower down payment will increase access to mortgage credit. Here are that survey’s findings:

Bottom Line

Many potential buyers are “ready and willing” to buy a home but have been afraid they may not be “able” because of a lack of adequate savings for a down payment. Check with a local real estate or mortgage professional to understand what the new rules may mean to you.

Sky Zone Memphis is challenging local residents to a tournament-style slam dunk competition on the trampolines, and the winner will receive a $10,000 cash prize! This SkySlam Madness competition is taking place at all participating Sky Zone parks in the US, Canada, and Australia, continuing through April 5th. This is a fun, active community competition that is pegged to the March basketball craze.

To enter, anyone looking for a spirited challenge can post a video of themselves dunking a basketball on the Sky Zone trampolines on social media or on the SkySlam Madness website (www.skyslammadness.com). The top three coolest dunks will all win cash prizes and tons of free jump passes – and the first place winner will receive $10,000!

In addition to Skyslam Madness, Sky Zone Memphis has so much to offer for all ages! Sky Zone gives you one of the greatest workouts ever combined with awesome, healthy fun. They’ve been voted the number one “out of the box” workout and the “best party ever.” Experience WOW – the weightlessness of bouncing, flipping and landing in a pit filled with 10,000+ foam cubes. Plan your birthday parties, group events or participate in one of the many activities and programs. They are dedicated to providing you with the pure joy that comes with FLYING. They are sky lovers, thrill seekers and people who believe that jumping is freedom. They believe fitness can be fun and play can be smart. They are healthy and bursting with energy. They fly high and keep it safe.

There are many benefits to homeownership, one of top ones, is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.

The National Association of Realtors (NAR) just released their findings of a study in which they studied “income growth, housing costs and changes in the share of renter and owner-occupied households over the past five years in metropolitan statistical areas throughout the US.”

Don’t Become Trapped

The study revealed that over the last five years, a typical rent rose 15%, while the income of renters grew by only 11%. If you are currently renting, this disparity in growth could get you caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment.

The top 5 markets where renters have seen the highest increase in rents since 2009 are:

New York, NY (50.7%)

Seattle, WA (32.4%)

San Jose, CA (25.6%)

Denver, CO (24.1%)

St. Louis, MO (22.3%)

Homebuyers, who were able to purchase their home over the same five-year period and lock in their housing costs, were able to grow their net worth as home values have increased and their mortgage balances have gone down.

Know Your Options

Perhaps you have already saved enough to buy your first home. HousingWirereported that analysts at Nomura believe:

“It’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment.

It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)

“Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 to 10%. And new 3% down financing options for qualified borrowers could mean a down payment as little as $6,000 for a $200,000 home.”

Bottom Line

Don’t get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Have a professional help you determine if you are eligible to get a mortgage.

Huey’s has been serving up Blues, Brews and Burgers since 1970. Huey’s operates 7 locations from downtown to Collierville offering a casual setting and laid back atmosphere. The local chain understands what it means to be a neighborhood favorite; each spot offers live music, some have outdoor dining, all offer the same excellent food – with burgers just being the start.

Huey’s has been voted “Best Burger” by Memphis Magazine every year since 1984! Is there really any questions about what to order?! But don’t miss all the other great grub including seafood, sandwiches, soup and salad. Plus, Huey’s has also won awards for “Best Pub Grub” and “Best Beer Selection” in Memphis Magazine’s Readers Restaurant Poll.

Huey's restaurant has developed some fun customs, too. Diners are encouraged to use their drink straws like blowguns and shoot their toothpick into the ceiling. Look up when you come in the door and you'll see that the ceiling is covered!Each year they are taken down, counted and a contest is held to guess the final number and all money received is donated to the Memphis Zoo. Huey’s also allows diners to write on the walls and booths!

Sundays at Huey’s are renowned for live music – jazz in the afternoon, blues and rock at night – spotlighting local and regional groups. Family friendly, exceptional service and outstanding eats – what more could you ask for!

Open daily for lunch, dinner, and late night dining. Visit Huey’s website for more info or call (901) 726-9693.

Easy main level living awaits you in this conveniently located Colonial Acres three bedroom home. This appealing traditional home features gleaming hardwood floors, tile, an eat-in kitchen, crown molding, neutral paint colors, decorative touches, private backyard, security system, carport and so much more! The cozy great room offers an inviting place for family gatherings with an abundance of windows, and a breakfast/dining area with chandelier and pocket door into the kitchen. The kitchen offers tiled floors, plenty of cabinetry, open shelving, double sink and access to carport. Three spacious bedrooms with plush carpeting, crown molding, closets, ceiling fan/light and smooth ceilings. Half bathroom and full bathroom with tile and tub/shower. Relax in the fenced-in backyard featuring a delightful patio, plenty of space for the kids and pets to safely play and a separate workshop with electricity! Please take a look, you are sure to love this one!

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

Borrowers who have steady income and good credit, but not much money in the bank, will find that it recently became easier to buy a home.

Down payment requirements, which rose after the subprime mortgage crisis, are easing again as lenders and mortgage backers try to draw in new buyers.

"It's one of the things that's inhibiting first-time homebuyers," said Rob Chrane, president of Down Payment Resource. "There are a lot more people who can qualify for a home that don't realize that they can."

FHA cuts insurance costs

The Federal Housing Administration has long backed loans for borrowers with lower credit scores and with down payments as low as 3.5%, but until this year it also required hefty insurance payments.

FHA annual insurance premiums dropped dramatically at the beginning of 2015. The change, from 1.35% to only 0.85%, will make FHA loans a better choice for some borrowers after years of prohibitively high premiums, said Anthony Hsieh, chief executive officer of LoanDepot, one of the largest FHA lenders in the country.

"We're starting to get back to what's reasonable," said Hsieh. "The crisis has shaken the market so much that there is no doubt there was an overreaction."

Fannie and Freddie

Fannie Mae and Freddie Mac guarantee more than half the country's mortgages. At the end of 2014, the two government-backed companies announced plans to slash minimum down payments from 5% to 3%.

The new program from Fannie Mae went into effect in December, and the one from Freddie Mac will begin in March. Both are for first-time homebuyers or those refinancing their mortgage, and the Freddie Mac program is restricted to low-income borrowers.

Loans backed by the two mortgage giants still require private mortgage insurance for down payments below 20%.

And just because Fannie and Freddie are willing to buy loans with looser requirements doesn't mean the lenders themselves will change their standards.

"It's a phenomenon of the post-recession where lenders learned their lesson," said David Stevens, president of the Mortgage Bankers Association. "They learned that simply because the investor will allow it, the lender may still not feel comfortable doing it."

"Rural" and VA loans

Other types of low-down payment loans have also become far more popular since the recession.

Despite its name, loans from the Department of Agriculture are available to borrowers in many locations that are hardly rural, and they include no-money-down financing. To be eligible for USDA loans, a borrower must have dependable income and decent credit, and can't already own a home, exceed certain area median income thresholds or live within certain urban areas.

Department of Veteran Affairs loans are also booming, coming close to outnumbering FHA loans. Although not available to the average American homebuyer, VA mortgage backing allows veterans and surviving spouses to purchase property with no money down, no outside insurance and limited closing costs.

Average VA interest rates are lower, and credit and income requirements are also more flexible than conventional loans.

A return to easier credit

The shift toward loans with lower down payments has drawn criticism from some politicians -- after all, easy loans with little money down contributed to the crisis that led to the Great Recession.

Stevens said that new rules for qualified mortgage loans and more diligent underwriting by lenders will protect the lending market.

"Down payment has become the single largest barrier to home ownership," said Stevens. "Quite frankly, it's going to be a lot safer and sounder this time than it was in the past."

Welcome to 11692 Old Meadow Road, a magnificent home situated on 3+ gorgeous acres with a sparkling private lake! Located in Fisherville Estates, this home offers many desirable features including extensive woodwork, vaulted ceilings, oversized rooms, updated kitchen, two-story foyer and great room, sunroom, stained glass window, crown molding, central vac, neutral colors and security system. The striking 2-story great room with cozy brick fireplace and balcony above is the perfect place for entertaining guests and comfortable everyday living. Family-sized eat-in kitchen with granite, solid wood cabinets, a full compliment of appliances and large breakfast area. Enjoy formal entertaining in the elegant dining room, perfect for holiday gatherings. Sip your morning coffee and take in the views from the relaxing sunroom. Retreat at days end to your main level master suite and luxury bath with jetted tub, separate shower, double vanity and cedar, walk-in closet. Three generously sized bedrooms sharing a full bath on the second level offer ample space for a growing family. The huge, vaulted bonus room is the perfect space to play or party! Extensive decking overlooks a peaceful setting on 3.42 serene acres with mature trees, storage shed/workshop, detached and attached garage, and beautiful views of your own private lake – what more could you ask for! Seller will include a one year prepaid home warranty and one year residential termite and monthly inside/outside pest control service.

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

Conveniently located Chatham Village townhome close to shopping and restaurants! This move-in ready unit has been meticulously updated for style, function and peace of mind. Desirable features include wood floors, crown molding, updated kitchen, baths, fixtures and hardware, plus newer carpeting, hot water heater, air conditioning, thermostat and doors...just to name a few! Entertaining will be a delight in this spacious and open layout with an inviting great room offering an abundance of natural light. Stylish kitchen with Viatera Quartz countertops, Silver Tip backsplash, a full complement of appliances, brushed nickel fixtures and hardware, plus a cheerful breakfast area with slider to the backyard. Spacious bedrooms with newer carpeting including the master with walk-in closet. Updated full bathroom with ceramic flooring, Kohler toilet and tub/shower combo. The sunny outdoor space in the fenced-in yard and brick patio with awning is perfect for cookouts and parties. This unit is located at the back of the complex with a convenient entrance/exit gate, plus multiple guest’s parking spaces directly in front of the door. Enjoy the community pool and clubhouse. Offering safety, security and comfortable everyday living, this townhouse has it all!

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.